Japanese steel plate stocks fell for the first time in 5 months
According to the sales data of 12 member companies releasedby the Tokyo Steel Sales Federation, in July, Japanese steel plate sales were36,700 tons, an increase of 0.2% from the previous month; steel inventory was61,600 tons, down 2.2% from the previous month, for 5 consecutive years. Forthe first time since the month, the chain has fallen.
Japanese industry insiders said that demand for steel sheetsfor construction in Japan is rising in the near future, leading to tightermarket supply.
It is understood that Japan’s largest steel company, NipponSteel & Sumitomo, announced that it will increase its construction steelsheet price by 5,000 yen/ton in October this year. Prior to this, Japan'slargest steel producer Kyoei Steel announced that it will increase its steelbar price by 2,000 yen / ton in the shipment in September this year. In thisregard, Kyoei Steel said that the price increase is to offset the impact ofrising raw material prices, including scrap and alloys.
